Printer Friendly

BOONTON ELECTRONICS CORPORATION FILES FOR CHAPTER 11

 RANDOLPH, N.J., Sept. 7 /PRNewswire/ -- Boonton Electronics Corporation (NASDAQ: BOON) announced that it has filed a petition for reorganization pursuant to Chapter 11, of Title 11 of the United States Code. Boonton filed its petition after its principal lender, United Jersey Bank, commenced foreclosure activity against certain of Boonton's assets.
 Boonton Electronics Corporation designs, manufactures, and sells electronic test and measurement instruments for RF and Microwave markets. Boonton is a leader in the Power Meter segment of that market.
 "Boonton has been an industry leader for five decades and we hope to be in business for many years to come. The Chapter 11 petition was a necessary step to preserve Boonton's assets from the foreclosure activity of United Jersey Bank," said Otto York, chairman and chief executive officer.
 -0- 9/7/93
 /CONTACT: John Titterton, 201-584-1077, for Boonton Electronics Corporation/
 (BOON)


CO: Boonton Electronics Corporation ST: New Jersey IN: CPR SU: BCY

LD -- NY077 -- 9571 09/07/93 22:41 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 7, 1993
Words:162
Previous Article:NATIONSBANK ANNOUNCES AGREEMENT FOR UNDERWRITTEN PUBLIC OFFERING
Next Article:PHONE HOME...ON US! HOLIDAY INN HOTELS OFFER MATURE TRAVELERS l5 MINUTES WORTH OF FREE TELEPHONE CALLS ANYWHERE IN THE U.S.
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters